Andra AP fonden acquired a new position in shares of Torchmark Co. (NYSE:TMK) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,400 shares of the insurance provider’s stock, valued at approximately $7,818,000.
A number of other large investors also recently modified their holdings of TMK. Vanguard Group Inc lifted its holdings in Torchmark by 1.7% in the third quarter. Vanguard Group Inc now owns 12,664,337 shares of the insurance provider’s stock valued at $1,097,870,000 after acquiring an additional 210,422 shares during the period. FMR LLC grew its holdings in Torchmark by 10.2% during the 4th quarter. FMR LLC now owns 2,820,235 shares of the insurance provider’s stock valued at $210,192,000 after buying an additional 260,809 shares in the last quarter. Geode Capital Management LLC grew its holdings in Torchmark by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,457,051 shares of the insurance provider’s stock valued at $108,420,000 after buying an additional 89,972 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Torchmark by 22.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,409,739 shares of the insurance provider’s stock valued at $115,529,000 after buying an additional 262,077 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Torchmark by 1.2% during the 4th quarter. Northern Trust Corp now owns 1,254,449 shares of the insurance provider’s stock valued at $93,493,000 after buying an additional 15,138 shares in the last quarter. 76.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TMK stock opened at $88.42 on Wednesday. The stock has a market capitalization of $9.77 billion, a PE ratio of 14.42, a P/E/G ratio of 1.68 and a beta of 0.97. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.22. Torchmark Co. has a 52-week low of $69.68 and a 52-week high of $91.28.
Torchmark (NYSE:TMK) last released its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. Torchmark had a return on equity of 12.75% and a net margin of 16.37%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $1.47 EPS. Torchmark’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts expect that Torchmark Co. will post 6.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, July 3rd. Torchmark’s dividend payout ratio is presently 11.26%.
In other news, VP Carol A. Mccoy sold 6,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $89.33, for a total value of $535,980.00. Following the sale, the vice president now directly owns 101,043 shares in the company, valued at $9,026,171.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Henry Rogers, Jr. sold 1,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $89.33, for a total value of $89,330.00. Following the completion of the transaction, the insider now directly owns 1,000 shares in the company, valued at approximately $89,330. The disclosure for this sale can be found here. Insiders have sold 270,038 shares of company stock worth $23,399,944 over the last 90 days. 3.64% of the stock is owned by insiders.
Separately, Zacks Investment Research raised Torchmark from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $85.75.
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Torchmark Company Profile
Torchmark Corporation, through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through four segments: Life Insurance, Health Insurance, Annuity, and Investment. The company offers traditional and interest-sensitive whole life insurance, as well as term life insurance.
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